Financial Results Approval
The Board of Directors approved:
- Audited Standalone and Consolidated Financial Results for half-year and financial year ended 31st March 2026
- Standalone & Consolidated Statement of Assets and Liabilities as of 31st March 2026
- Standalone & Consolidated Cash Flow Statement for year ended 31st March 2026
- Auditor's Report from M/s. G.P. Associates, Chartered Accountants
Key Financial Figures - Standalone (₹ lakhs)
Income Statement for FY Ended 31-Mar-2026 vs 31-Mar-2025:
- Revenue from operations: ₹4,822.70 vs ₹5,139.60 (6.2% decrease)
- Other income: ₹28.02 vs ₹13.57
- Total Income: ₹4,850.72 vs ₹5,153.17
- Profit Before Tax: ₹73.27 vs ₹872.01 (91.6% decrease)
- Tax Expense: ₹32.61 vs ₹221.76
- Profit for Year: ₹40.66 vs ₹650.25 (93.7% decrease)
- Number of Equity Shares: 5,47,96,000 vs 4,00,00,000 (37.0% increase)
- Basic EPS: ₹0.07 vs ₹1.63 (95.7% decrease)
Half-Year Performance (31-Mar-2026 vs 30-Sep-2025):
- Revenue from operations: ₹3,198.94 vs ₹1,623.75
- Profit/(Loss) Before Tax: ₹151.17 vs (₹77.89)
- Profit/(Loss) for Period: ₹139.86 vs (₹99.20)
- Basic EPS: ₹0.26 vs (₹0.25)
Balance Sheet as of 31-Mar-2026 vs 31-Mar-2025:
- Total Equity & Liabilities: ₹4,830.79 vs ₹3,302.34
- Share Capital: ₹547.96 vs ₹400.00
- Reserves & Surplus: ₹2,765.85 vs ₹1,902.34
- Total Assets: ₹4,830.79 vs ₹3,302.34
- Cash & Cash Equivalents: ₹1,104.47 vs ₹61.25
Cash Flow Statement for FY Ended 31-Mar-2026 vs 31-Mar-2025:
- Net cash from operating activities: ₹142.70 vs ₹299.01
- Net cash used in investing activities: (₹487.46) vs (₹450.13)
- Net cash from financing activities: ₹1,387.98 vs ₹197.32
- Net increase in cash: ₹1,043.22 vs ₹46.21
Key Financial Figures - Consolidated (₹ lakhs)
Income Statement for FY Ended 31-Mar-2026 vs 31-Mar-2025:
- Revenue from operations: ₹4,822.70 vs ₹5,139.60
- Profit Before Tax: ₹39.51 vs ₹836.94 (95.3% decrease)
- Profit for Year attributable to owners: ₹20.75 vs ₹625.94 (96.7% decrease)
- Basic EPS: ₹0.00 vs ₹1.51 (100% decrease)
Balance Sheet as of 31-Mar-2026 vs 31-Mar-2025:
- Total Equity & Liabilities: ₹5,560.57 vs ₹4,055.89
- Share Capital: ₹547.96 vs ₹400.00
- Reserves & Surplus: ₹2,767.53 vs ₹557.39
- Total Assets: ₹5,560.57 vs ₹4,055.89
- Cash & Cash Equivalents: ₹1,111.36 vs ₹61.53
Auditor Appointments
- Re-appointment: M/s. K.P. & Associates, Chartered Accountants (FRN: 012191S) as Internal Auditors for Financial Year 2026-27
- Appointment: M/s. R&A Associates, Company Secretaries as Secretarial Auditor for Financial Year 2025-26
IPO Proceeds Utilization
Total IPO Proceeds: ₹3,107.16 lakhs (allotment date: 8th October 2025)
Utilization as of 31-Mar-2026: ₹2,115.27 lakhs
Unutilized Amount: ₹991.89 lakhs parked in Bank Fixed Deposits
Object-wise Utilization:
- Funding Capex (HDPE Ball Valves Unit): ₹134.28 lakhs utilized of ₹526.17 lakhs
- Repayment of borrowings: ₹390.40 lakhs fully utilized of ₹390.40 lakhs
- Working Capital: ₹832.44 lakhs utilized of ₹1,413.32 lakhs
- Issue Expenses: ₹311.27 lakhs fully utilized of ₹311.27 lakhs
- General Corporate Purposes: ₹446.88 lakhs utilized of ₹466.00 lakhs
Auditor Confirmation: M/s. G.P. Associates certified the utilization details with no deviations from prospectus objects.
Profitability Impact Disclosure
The Board noted that profitability was adversely affected by an exceptional global cost environment arising from ongoing war, including:
- Over 60% increase in HDPE raw material prices
- Sharp escalations in fuel and transportation costs
- Price increases in copper affecting valves and electrofusion fittings costs
- Inability to pass on cost increases due to short-term nature of supply contracts
Board Meeting Details
- Meeting held on Friday, 29th May 2026
- Commenced at 3:00 PM and concluded at 5:00 PM
Auditor Information
- Statutory Auditor: M/s. G.P. Associates, Chartered Accountants (FRN: 0067348)
- Audit Partner: CA K Abhinav (M.No. 242972)
- Unmodified audit opinion issued on both standalone and consolidated financial results